Austal USA LLC, based in Mobile, Alabama, has agreed to pay $811,259 to resolve allegations of violating the False Claims Act by knowingly supplying valves that did not meet military specifications.
The settlement, under a 2011 Navy contract, alleges that Austal invoiced for military-grade high-performance butterfly valves and triple offset butterfly valves installed on five Independence Class Littoral Combat Ship (LCS) hulls, despite knowing that the valves had not met the required testing standards to be deemed military grade, the U.S. Department of Justice said.
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Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.